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Ashok Leyland to invest Rs 400 crore in a new LCV platform; eyes 5-fold rise in exports in 3 years

Ashok Leyland said that the company will also be investing Rs 400 crore into a new platform of LCVs that will continue to launch a new product every six months.

By: | Updated: January 23, 2018 10:58 AM

Ashok Leyland, Israel, Phinergy, ECV

Hinduja Group flagship Ashok Leyland is aiming to increase its export basket of light commercial vehicles (LCV) to 25 percent from the present 5 percent over the next three years, a senior official said.Nitin Sethi, president, Light Commercial Vehicles, Ashok Leyland said that the company will also be investing Rs 400 crore into a new platform of LCVs that will continue to launch a new product every six months."We are targeting all the Gulf countries, Russia, Ukraine and lot of West African countries which follow left-hand drive. Our left-hand drive vehicles will start coming from June this year.

"Today, only 5 percent of our volumes are from exports and our ambition should be at least 25 percent in the next three years," Sethi said.He said that all the vehicles manufactured by the company presently cater to right-hand drive markets and is exported to SAARC (South Asian Association for Regional Cooperation)countries, whereas 80 percent of the global market follows left-hand driving.

"We have 15 percent market share of the LCV market in the country. We hope to grow between 20-30 percent as we move forward," Sethi said at the launch of DOST+, a new LCV here.

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